External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<div><div><div><div><ul><li>Steel Strips Wheels Ltd (SSWL) Q2FY23 numbers stood below our estimates. Revenues stood at Rs 1,081 Cr, (4% miss), up 13%/6% YoY/QoQ.</li><li>The company reported an EBITDA of Rs117 Cr (our estimate - Rs 138 Cr), down 15% YoY but up 7% QoQ.</li><li>While its EBITDA margins stood flat QoQ at 10.8%,they declined by ~350 bps YoY from 14.3% in Q2FY22 and missed our estimate of 12.3% by 144bps. </li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Steel Strips Wheels Ltd (SSWL) Q2FY23 numbers stood below our estimates. Revenues stood at Rs 1,081 Cr, (4% miss), up 13%/6% YoY/QoQ.The company reported an EBITDA of Rs117 Cr (our estimate - Rs 138 Cr), down 15% YoY but up 7% QoQ.While its EBITDA margins stood flat QoQ at 10.8%,they declined by ~350 bps YoY from 14.3% in Q2FY22 and missed our estimate of 12.3% by 144bps. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Steel Strips Wheels Ltd - Exports Weak; Alloy Wheels to Drive Growth!

<ul><li>We retain our BUY rating on the stock valuing it at 5.5x FY24E EV/EBIDTA arriving at a target price of Rs 1,000/share, (Rs 1,075/ share earlier) implying an upside of 30% from CMP.</li><li>Steel Strip Wheels Ltd (SSWL) reported a mixed set of numbers in Q4FY22 supported by the improvement in alloy wheels and the PV segment.</li><li>Revenue for the quarter improved by 24% QoQ to Rs 1,063 Cr (our estimate – Rs 990 Cr). </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We retain our BUY rating on the stock valuing it at 5.5x FY24E EV/EBIDTA arriving at a target price of Rs 1,000/share, (Rs 1,075/ share earlier) implying an upside of 30% from CMP.Steel Strip Wheels Ltd (SSWL) reported a mixed set of numbers in Q4FY22 supported by the improvement in alloy wheels and the PV segment.Revenue for the quarter improved by 24% QoQ to Rs 1,063 Cr (our estimate – Rs 990 Cr). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Steel Strips Wheels: Well-Placed to Capitalize on Auto Revival; Outlook Remains Positive

<p>We retain a BUY rating on the stock and value the company at 6x FY23E EV/EBIDTA to arrive at a revised target price of Rs 2,122/share, giving an upside of 13% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We retain a BUY rating on the stock and value the company at 6x FY23E EV/EBIDTA to arrive at a revised target price of Rs 2,122/share, giving an upside of 13% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Steel Strips Wheels: Exponential Growth On The Anvil

<p>We retain a BUY with a revised target price (TP) of Rs 1,456/share, valuing the company at 5x FY23E EV/EBIDTA. The TP implies an upside of 14% from CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We retain a BUY with a revised target price (TP) of Rs 1,456/share, valuing the company at 5x FY23E EV/EBIDTA. The TP implies an upside of 14% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Steel Strips Wheels: Exports and Alloy Wheels Lead Growth

India

Steel Strips Wheels designs, manufactures, and supplies automotive steel and alloy wheel rims for various vehicle segments, including passenger cars, commercial vehicles, tractors, and two-wheelers. The company is a key supplier to major Original Equipment Manufacturers globally. It was founded in 1985 and is headquartered in Chandigarh, India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Steel Strips Wheels (SSW IN)

Steel Strips Wheels Ltd - Exports Weak; Alloy Wheels to Drive Growth!

While its EBITDA margins stood flat QoQ at 10.8%,they declined by ~350 bps YoY from 14.3% in Q2FY22 and missed our estimate of 12.3% by 144bps.

Axis Direct

Steel Strips Wheels: Well-Placed to Capitalize on Auto Revival; Outlook Remains Positive

We retain our BUY rating on the stock valuing it at 5.5x FY24E EV/EBIDTA arriving at a target price of Rs 1,000/share, (Rs 1,075/ share earlier)...

Axis Direct

Steel Strips Wheels: Exponential Growth On The Anvil

We retain a BUY rating on the stock and value the company at 6x FY23E EV/EBIDTA to arrive at a revised target price of Rs 2,122/share, giving an...

Axis Direct

Steel Strips Wheels: Exports and Alloy Wheels Lead Growth

We retain a BUY with a revised target price (TP) of Rs 1,456/share, valuing the company at 5x FY23E EV/EBIDTA. The TP implies an upside of 14% from...

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)